The founding family of Allied Blenders and Distillers Ltd. is considering options including a possible sale of its stake in the Indian liquor company, according to people familiar with the matter.
The Chhabria family is working with an adviser and studying options including selling a stake to a strategic buyer, the people said, asking not to be identified because the information isn't public. The owners might sell part of their stake first, with the possibility for the buyer to build up a controlling interest over time, according to the people. The family could also evaluate other possibilities such as paring its holding through block trades, the people added.
Deliberations are still only at an early stage and may not result in a deal, they said. Representatives for the Chhabria's and ABD declined to comment.
ABD said Tuesday that Bina Kishore Chhabria, the company promoter and wife of its founder, planned to sell as much as a 1.97% stake from Sept. 23 to Oct. 1 to meet minimum public shareholding requirements. As of Sept. 22, the family's shareholding was 80.91%. ABD listed in Mumbai in July 2024.
Founded in Kolkata by Kishore Chhabria in 1988, ABD has grown into one of India's biggest spirits companies and exporters, with a range of whisky brands including Officer's Choice, as well as vodka, gin, rum, brandy and water.
ABD's shares are up about 19% this year after recovering from a dip in March and helped by a 8.5% jump Thursday. The company's market capitalization is 200 billion rupees ($2.1 billion).
(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)
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